Principal = $300,000
Interest= 13% pa compounding quarterly
20 quarterly installment (payment date 20 th of each month)
after paying 2 installment $ 20,633.665 interest rate changed to 12.75% pa with compounding quarterly (effective from 1st of July).
the problem is during the quarter first 10 days interest will be calculated @13% pa and rest of the quarter interest will be calculated @12.75% pa.
what should be the installment size for 3rd quarter and what should be the installment size for (4th - 20th) quarter?
Interest= 13% pa compounding quarterly
20 quarterly installment (payment date 20 th of each month)
after paying 2 installment $ 20,633.665 interest rate changed to 12.75% pa with compounding quarterly (effective from 1st of July).
the problem is during the quarter first 10 days interest will be calculated @13% pa and rest of the quarter interest will be calculated @12.75% pa.
what should be the installment size for 3rd quarter and what should be the installment size for (4th - 20th) quarter?
